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French Minister Urges France to Become Leader in Blockchain and Cryptocurrencies

French Minister Urges France to Become Leader in Blockchain and Cryptocurrencies

The French Finance Minister Bruno Le Maire admits he was wrong regarding blockchain and cryptocurrencies. Recently, the powerful minister had a change of heart and is now calling for making France the epicenter for blockchain and cryptocurrency technologies.

FRENCH FINANCE MINISTER NOW PASSIONATE ABOUT CRYPTOCURRENCIES

Le Maire has become passionate about Bitcoin technology and other cryptocurrencies. According to Alexandre Stachtchenko, President of Chaintech, and Co-founder of Blockchain Partner, Le Maire declared:

On 15 May 2018, during a breakfast meeting, the French Finance Minister discussed several topics pertinent to the crypto industry with entrepreneurs and representatives of Blockchain Partner. For example, they discussed the banking difficulties facing the sector, cryptocurrency taxation, accounting treatment, legal frameworks for ICOs.

At this event, Le Maire shared his concerns with the participants about the dramatic and alarming situation affecting the cryptocurrency industry. For instance, he concurred that without a bank account, there is no opportunity to create businesses.

In this regard, Bitcoin.Fr reported, Le Maire emphasized that between the government on one side and the crypto community on other “the interests are aligned.”

Le Maire also outlined his plans to back the French blockchain and crypto industry, assuring his “total and determined support.”

FRENCH FINANCE MINISTER NOW DEFENDS THE CRYPTO INDUSTRY

Last year, Le Maire had negative views about Bitcoin and other digital currencies. For example, in December 2017, he proposed to President Mauricio Macri, who was to host the 2018 G20 in Buenos Aires, that member countries should discuss how to regulate Bitcoin because it conveyed risks of speculation.

However, at the G20 meeting, Le Maire reversed course and underscored the prominent role the cryptocurrency can play in the global economy. Now, the minister continues his enthusiastic support of the crypto community, and promises them:

You have with me a total and determined support to make change things.